Durgapur Steel Ltd. (In Liquidation) Versus Official Liquidator - Corporate Laws - CALCUTTA HIGH COURT - HC - Stay application - Winding up of a company - Inability to pay debts - Held that - winding up proceeding is not a recovery proceeding for enforcing the recovery of the debt. It is not a tool to realise the debts due from the company, nor could be taken out to exert the pressure on the company to pay the dues. The debt must be of an ascertained and/or definite sum. If there is some bona fi................................... Corporate Laws - Case Laws
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